European Authority for Anti-money Laundering and Countering Terrorist Financing
The European Authority for Anti-money Laundering and Countering Terrorist Financing (AMLA) is a planned agency of the European Union to be based in Frankfurt and to start operating in 2025.[1]
Background[edit]
The European Commission first proposed AMLA in July 2021 after a series of financial scandals that exposed significant flaws in bank supervision.[2] Described as a "game-changer in cracking down on dirty money in the EU," AMLA is intended to curb illicit financial flows while improving coordination between governmental intelligence authorities within the bloc.[3]
References[edit]
- ^ "Frankfurt to host the EU's new anti-money laundering authority (AMLA)".
- ^ "Brussels wants a new EU agency to tackle money laundering". Euronews. Retrieved 27 May 2024.
- ^ De Clercq, Geert. "EU's new Anti-Money Laundering Authority to be based in Frankfurt". Reuters. Retrieved 27 May 2024.